Economics Proposal to Spend 1.34 Trillion Baht on New ‘Second Bangkok’ in Huai Yai, Chonburi

[Georgealbert]

 

Pictures courtesy of Matichon.

 

The Eastern Economic Corridor (EEC) is set to transform 14,619 rai, in Huai Yai subdistrict of Bang Lamung, Chonburi, into a massive new smart city project, in what is being dubbed as “Thailand’s second Bangkok”. The project will involve a proposed estimated investment of 1.34 trillion baht and is hoped to be completed by 2030.

 

At a seminar titled “Legal Frameworks for Foreign Investment in Thailand: Sales, Rentals, and Development” held on 30 May, Mr. Korthong Thongtham Na Ayutthaya, Deputy Director of the Office of Smart City and Urban Business Centre under the Eastern Economic Corridor Office (EECO), revealed plans for the new city, which will complement the development of U-Tapao Airport.

 

The city is planned around six key business clusters:

 

1. Regional office and financial services

2. Precision and future healthcare

3. International education and R&D

4. Tourism, recreation and sports

5. BCG (Bio-Circular-Green) economy businesses

6. Mixed-use residential and commercial developments

 

The land allocation is structured with 70% designated for infrastructure and 30% for usable space.

Phase One Development

 

Phase one will span five years and cover 5,795 rai, with an investment value of over 534 billion baht. It will feature key infrastructure, a central business district, healthcare and wellness centres, residential and commercial mixed-use zones, shopping centres, and convention spaces.

 

The EECO has already signed Memoranda of Understanding with the Industrial Estate Authority of Thailand to support BCG businesses and with the Sports Authority of Thailand to develop a sports complex on 1,500 rai.

 

Other components such as residential and mixed-use areas are still in the process of securing private investors. Investors will benefit from special incentives under the EEC legal framework, which designates the area as a special economic zone.

 

The entire project is expected to accommodate 350,000 residents and create up to 200,000 jobs, significantly enhancing development in both Pattaya and the U-Tapao Airport area.

 

Transport and Investment Plans

 

According to Mr. Korthong, rental rates for land and spaces within the project are being finalised, with strong interest already shown from both Thai and international investors.

 

Investment will be split into two parts. The first will focus on essential infrastructure and utilities, including electricity, water supply, telecommunications, wastewater treatment, waste recycling and a mass transit system connecting Pattaya’s proposed monorail to the new city and the upcoming sports complex.

 

This infrastructure phase will operate under a public-private partnership (PPP) model. Bidding is set to begin in 2026, with land clearance expected in 2027.

 

The second phase will focus on business development across the six strategic sectors. Leasing of land to private investors is projected to start in 2027. Housing developments, including both houses and condominiums across all segments, will be offered under long-term leases (50+49 years), with construction beginning in 2028 and completion targeted for 2030, coinciding with the completion of the high-speed rail link connecting Thailand’s three main airports.

 

Vision for the Future

 

Mr. Korthong emphasised that the goal is to create a global-standard smart city, a model for future urban development in Thailand, comparable to cities such as Singapore and Hong Kong. The new EEC city aims to address key challenges facing existing Thai urban areas and become one of the world’s top 10 most liveable smart cities.

 

 

  Adapted by Asean Now from Matichon 2025-06-06

 

 

 

[ozz1]

Ladyboys on every corner that will work where's the money coming from

[PJ71]

Who comes up with these brain farts, that's up there with some of the best....

[SAFETY FIRST]

Oh, great, more traffic for the region. 

 

[johng]

lucky they already built the 10 lane motorway.

[JoePai]

is hoped to be completed by 2030

 

🤣 that's the best bit

[mikebell]

Remember 1st comes the feasibility committee; (10 million for several members of Hi-So local families).  Next comes the jockeying for the building contract by mega-companies distributing 'sweeteners'.  This money is then recouped by skimming on the suppliers of materials.  The resultant build will cost many lives and police will begin an investigation, after warning those involved, to leave for foreign climes.

[dddave]

I live in Jomtien and whenever I just want a peaceful drive in a beautiful area with mountains, trees and uncrowded roads, I head to Hua Yai and the area surrounding the "Buddha Mountain" and especially the almost unspoiled forest preserve behind Wat Yan Sang Wararam.  One can almost feel like it's a country drive only 30 minutes from Pattaya.  No doubt, this is exactly the area they will feel compelled to despoil to create their new urban jungle.

 

I feel fortunate to be too old to be around when it happens.  

[edwinchester]

"The project will involve a proposed estimated investment of 1.34 trillion baht and is hoped to be completed by 2030."

 

The Bangkok to Kanchanaburi motorway has been 11 years in the making and still not finished. Five years for a complete city? I want whatever the committee who dreamt up that timescale is inhaling.

[LennyW]

So they worry about Bangkok sinking.....and they want to create a second Bangkok in the Big Muddy LOL!!!!

[redwood1]

I just read about this little nugget of insanity for the first time...

 

Everyone please do look at a map to see how close this is to Pattaya

 

https://www.google.com/search?q=huai+yai+pattaya&rlz=1C2_____en-USTH1087TH1087&sca_esv=ae52ad0296be77de&source=hp&ei=1eVEaK6LBu_hseMP_MD9kAM&iflsig=AOw8s4IAAAAAaETz5eetdaule5hZjwNH8oBRo3VtQI90&oq=Huai+Yai+&gs_lp=Egdnd3Mtd2l6IglIdWFpIFlhaSAqAggAMgcQABiABBgTMgcQABiABBgTMgcQABiABBgTMgcQABiABBgTMgIQJjICECYyCBAAGBMYFhgeMggQABgTGBYYHjIIEAAYExgWGB4yCBAAGBMYFhgeSP8KUABYAHAAeACQAQCYAVegAVeqAQExuAEByAEA-AEC-AEBmAIBoAJomAMAkgcDMC4xoAesBbIHAzAuMbgHaMIHAzMtMcgHDg&sclient=gws-wiz

 

Thailand is a big place.....It would be madness to try and cram a major new city in here....Not that I would believe it would ever happen in my life time but still why the bloody hell even think about building a major city next to the already pretty congested Pattaya....

These people are sick in the head I tell ya....

 

[henryford1958]

Build a city in 5 years ha ha. Took them 3 years to build a tunnel under the Sukhumvit road in Pattaya

[redwood1]

32 minutes ago, henryford1958 said:

Build a city in 5 years ha ha. Took them 3 years to build a tunnel under the Sukhumvit road in Pattaya

 

Exactly.... Every one on this forum will be long gone for decades already, before this city ever gets built.....If it ever gets built....

[jacko45k]

20 hours ago, henryford1958 said:

Build a city in 5 years ha ha. Took them 3 years to build a tunnel under the Sukhumvit road in Pattaya

Bad example, that was all done to a schedule and on time. Although remember further back to the infamous 2nd Rd and Thrappaya,  towards Jomtien.

[CanadaSam]

And all housing, including condos in this "new bangkok" will be on LEASEHOLD land, removing the one incentive for people to buy homes/condos there.  Methinks it will be a ghost town, if they ever get it built!

[Georgealbert]

UPDATE
Land Prices Surge in Huai Yai Amid Launch of “EEC New City” Mega Project

 

Pictures courtesy of Kaoded.

 

Land prices in the Huai Yai–Pattaya corridor are skyrocketing following the full-scale launch of Thailand’s ambitious “EEC New City” project. Spearheaded by the Eastern Economic Corridor Policy Committee (EECO), the 14,619-rai development in Huai Yai subdistrict, Chonburi, is attracting a frenzy of real estate activity. With an investment value exceeding 1.34 trillion baht, the government aims to create a “second Bangkok”, a hub for business, innovation and urban expansion.

 

The state has already begun the process of land expropriation and compensation, while signing a strategic cooperation agreement with the Sports Authority of Thailand to develop a new sports complex in the area. In parallel, the Industrial Estate Authority of Thailand (IEAT) is planning a large-scale BCG (Bio-Circular-Green) industrial estate, with public utility bids expected to commence in 2026.

 

Mr Wasan Khongchan, Vice President of the Real Estate Sales and Marketing Association, reported intense speculation and transactions around the project site. A notable deal involved over 400 rai opposite the former ASEAN University, which was auctioned and sold back in 2023.

Land prices have surged dramatically across the region:

 

• Road 331 corridor: From 1–2 million baht/rai to 5–10 million baht/rai

• Khao Chi Chan area: From 2–3 million baht/rai to 3–10 million baht/rai

• Na Jomtien beachside: From 40 million baht/rai to 80–100 million baht/rai

• Sukhumvit Road frontage: From 10–20 million baht/rai to 30–40 million baht/rai

 

Most current investors are Thai, either Bangkok-based or local, with limited Chinese capital involvement so far. The primary focus has been on hotel, resort and tourism-related real estate development.

 

Dr Sopon Pornchokchai, President of the Agency for Real Estate Affairs (AREA), added that mid-sized plots (10–20 rai) along Road 331 are now valued around 4–5 million baht/rai, while larger parcels (500+ rai) average 2 million baht/rai. He recommends that compensation for expropriated land be set at 20% above market value to encourage collaborative urban development.

 

The EEC New City masterplan spans a 10-year timeline and targets six core industries:

 

1. Regional business headquarters and financial services

2. Precision and future medicine

3. International education and research centres

4. Tourism, leisure, and sports

5. Bio-Circular-Green (BCG) industries

6. Residential and mixed-use real estate

 

A number of Thai and foreign companies have already expressed interest in investing. With the rapid transformation underway, Huai Yai is poised to become one of the hottest emerging investment destinations, prompting close attention from developers and urban planners alike.

 

 

  Adapted by Asean Now from Kaoded 2025-06-13

 

 

 

[sandyf]

Nothing new here, land has been rising steadily alongside the No 7 since it's completion a few years back.

When I built my house in 2009 I was offered a plot about 10 rai for 6 million, it is still  for sale, about 10 times that now.

A few years from now every chance that corner of Thailand will be the most prosperous.